Pacer Advisors Inc. Has $7.62 Million Holdings in Innoviva, Inc. $INVA

Pacer Advisors Inc. decreased its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 381,373 shares of the biotechnology company’s stock after selling 83,249 shares during the quarter. Pacer Advisors Inc. owned about 0.51% of Innoviva worth $7,624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Innoviva by 297.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,398 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,795 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Innoviva during the third quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Innoviva by 49.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,633 shares of the biotechnology company’s stock worth $73,000 after buying an additional 1,197 shares during the last quarter. Lazard Asset Management LLC bought a new position in Innoviva during the second quarter worth $92,000. Finally, Ensign Peak Advisors Inc acquired a new position in Innoviva in the fourth quarter valued at $115,000. Institutional investors and hedge funds own 99.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on INVA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Innoviva in a research report on Friday, March 27th. HC Wainwright reissued a “buy” rating and issued a $46.00 price objective on shares of Innoviva in a research report on Monday, June 1st. Wall Street Zen raised Innoviva from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, BTIG Research restated a “buy” rating and set a $42.00 target price on shares of Innoviva in a research report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Innoviva Price Performance

Innoviva stock opened at $22.49 on Monday. The company has a market capitalization of $1.66 billion, a PE ratio of 3.74 and a beta of 0.35. Innoviva, Inc. has a 12-month low of $16.52 and a 12-month high of $25.15. The firm’s fifty day moving average is $22.78 and its 200 day moving average is $21.83. The company has a quick ratio of 20.07, a current ratio of 21.13 and a debt-to-equity ratio of 0.19.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Innoviva had a net margin of 119.89% and a return on equity of 33.33%. The business had revenue of $97.99 million during the quarter, compared to analysts’ expectations of $101.57 million. As a group, sell-side analysts predict that Innoviva, Inc. will post 2.23 EPS for the current fiscal year.

Innoviva Company Profile

Innoviva, Inc, incorporated in Delaware and headquartered in San Francisco, California, is a royalty-focused life sciences company. It acquires, manages and monetizes royalty and license interests in biopharmaceutical products, with a primary emphasis on inhaled respiratory therapies. Innoviva’s portfolio is anchored by royalties on therapies originally developed by its former affiliate, now marketed by GlaxoSmithKline, including several long-acting inhaled products approved for chronic obstructive pulmonary disease (COPD) and asthma.

The company was established through a spin‐out transaction in 2014, separating the royalty assets from a research‐based biopharmaceutical enterprise to create a specialized investment vehicle.